Chief Executives of IOCs Discuss Pathway to Energy Transition at 2022 NIES

The Federal Government has charged national, international, and indigenous oil firms to develop practical and expedited energy transition strategy for the country.

Chief Timipre Sylva, Minister of State for Petroleum Resources, threw this challenge to the industry players during the CEOs Round Table Session at the ongoing 2022 NIES, on Tuesday, March 02.

Representing TotalEnergies at the Round Table Session themed “Strategies for Confronting the Energy Transition", the Deputy Managing Director of the Deepwater Asset, Mr. Victor Bandele, said the company had transformed into TotalEnergies as an active player in the global energy transition and is committed to combating climate change, with a target of reducing its carbon footprint by 20 percent by the year 2030.

Bandele further stated that the company was focusing on increasing participation and partnering with companies that shared values. It also partners with Nigeria Liquefied Natural Gas, due to the importance gas as the transition fuel.

He stated that TotalEnergies’ deliberate decision of investing in Nigeria while encouraging renewable energy access align with the company’s goal of reducing emissions.

"We are deliberate in our work, believing in the will expressed in the Petroleum Industry Act (PIA 2021). TotalEnergies will continue to invest in oil, natural gas, electricity, hydrogen, biomass, wind, and solar. We have begun the rebranding of all our service stations around the country, to reflect the new name, logo, and strategy as part of the company's transition. Our ambition is to be a world-class player in the energy transition”.

Dr. Ibe Kachukwu, former Minister of State for Petroleum; Mr. Mele Kolo Kyari, NNPC's Group Managing Director; Mr. Osagie Okunbor, Chairman, Shell Companies in Nigeria; Mr. Rick Kennedy, Chairman/MD, Chevron Nigeria Limited; and Mr. Richard Laing, Chairman/MD, ExoonMobil Companies in Nigeria, were among the other panelists.